Taseko Mines and Southern Copper Benefit From Rebounding Copper Prices
The Paragon Report Provides Equity Research on Taseko Mines & Southern Copper
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 01/19/12 -- Copper stocks have been on the upswing this week as the price of the red metal recently hit a new 3 month high. Copper prices have rallied as upbeat Chinese economic data fed hopes that officials in the world's top copper consumer will try to stimulate growth. China said its economy grew by 8.9 percent in the fourth quarter, which was slower than the previous quarter. Analysts, however, consider these levels "robust," the Associated Press reports. The Paragon Report examines investing opportunities in the Copper Industry and provides equity research on Taseko Mines Ltd. (NYSE Amex: TGB) (TSX: TKO) and Southern Copper Company (NASDAQ: SCCO). Access to the full company reports can be found at:
Copper inventories in London Metal Exchange (LME) warehouses dropped to a 13-month low this week, and more declines are seen likely due to a pick-up in U.S. demand. Reuters reported that a 25 percent drop in LME copper prices in the fourth quarter, which touched a low of $6,635 per tonne in October, triggered restocking in China, which accounts for about 40 percent of global copper consumption.
Citigroup analyst David Wilson says that "it's fairly obvious that China has been restocking since September, attracted by lower prices, but now the question is: are we going to see more restocking or are consumers already sitting on reasonable volumes?"
The Paragon Report provides investors with an excellent first step in their due diligence by providing daily trading ideas, and consolidating the public information available on them. For more investment research on the Copper industry register with us free at and get exclusive access to our numerous stock reports and industry newsletters.
Taseko Mines Limited engages in the exploration, development, and operation of mineral properties in British Columbia, Canada. Earlier this month the company reported fourth quarter production of 22.3 million pounds of copper and 388,000 pounds of molybdenum for its 75% owned Gibraltar Mine located north of the City of Williams Lake. Total production for the 12 months ended December 31, 2011 was 82.9 million pounds of copper and 1.3 million pounds of molybdenum.
Southern Copper Corporation engages in mining, exploring, smelting, and refining copper ores in Peru, Mexico, and Chile.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at
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Datum: 19.01.2012 - 07:20 Uhr
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